Degiro Review 2021

March 2021 review by the Web Trading City Guru!

Degiro is an online brokerage aimed at both regular consumers and professionals alike and was formed in 2008 by former workers at Binck Bank, a large traditional broker in the Netherlands. Degiro is a Dutch based broker and is regulated by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) as well as the Dutch Central Bank, and by the Financial Conduct Authority (FCA) in the UK.

Degiro had 633,175 clients in 2020, nearly 50% more than in 2019. Their platform handled over 24.5 million transactions within the first six months of 2020, 169% more than in 2019. Clearly, we wanted to check out what all the buzz was about this broker for ourselves.

Account Opening

Opening an account at Degiro is quite a simple process, and unlike other national brokers you do not have to be a resident of Holland only to apply. With some exceptions, users from countries all over the world can apply.

The entire process can be done online and will require the usual standard proofs of identity and address etc. There is also no minimum deposit for opening an account which is great for traders who are just starting out on online trading and investing. Depositing to and withdrawing from your Degiro account is free by bank transfer but credit or debit card transactions are currently not possible. Also, unlike other brokers, Degiro do not offer a demo account so you will need to be moderately sure about committing to the platform before you make very high investments.

Fees and Costs

Please note: This section may have out-of-date figures. Please check on DEGIRO's website for current correct fees and commissions.

Degiro advertises that they have very low costs commissions, which is a real benefit for regular consumer traders, and their fee structure is indeed a lot more affordable than other brokers when trading a range of assets. Buying or selling an individual share in the UK will cost a flat fee of €2, plus a commission of 0.014% up to max €6 per trade, and a €2.50 per year for each stock exchange you use apart from the LSE. They charge no maintenance or account holding fees, and no inactivity, deposit or withdrawal fees.

Degiro also allow you to trade certain ETFs free each month, which has a limit of one buy or sell and is only available on certain ETFs, however, this is a superb way to invest passively and save on fees.

Fees for trading in various markets

Non-Trading Fees

Deposit/Withdrawal Methods

Platform and Apps

Degiro has a simple, fast, and comfortable to use web-based platform. You can conduct your technical analysis on your trading on it too, as well as the usual trade functions one would expect - multiple indicators, tools and chart types, and the platform can be accessed on a variety of devices, such as mobile/cell phones, tablets, and computers. Your trades and positions are also updated instantly if you change from one device to another.

And when it comes to security, Degiro boasts extensive protection when using their mobile app, with two-factor logging in ensuring your account is always safe.

Range of investments

Degiro offers a large selection of securities to trade so it may be the only broker you will ever need if you start trading with them. Stocks, bonds, options, ETFs, futures, and even crypto can all be traded but they do not currently offer FX or CFD trading. This may be something that will change very soon, so keep an eye out if this is of particular interest to you.

Degiro has over 5000 ETFs available, and they also allow you to invest in either Bitcoin or Ethereum, which many other brokers currently still don’t give access to. And to top things off, Degiro also allows trading on over 30 exchanges across the world.

Summary

In general, Degiro is an excellent and affordable online broker. The opening process for accounts is straightforward, and with the low costs and fees, it makes Degiro a highly accessible platform for everyone. If you are looking for a trustworthy and capable broker with some of the most competitive fees on the market, Degiro is the choice for you.